Author: lbostgadmin
Sri Lanka rupee strengthens, stocks close higher
Dec 20, 2012 (LBO) – Sri Lanka’s stocks closed 0.2 percent higher Thursday amid foreign investor interest and the rupee strengthened sharply against US dollar, brokers and dealers said. Sri Lanka’s central bank usually weakens the rupee by purchasing dollar inflows to the state. Analysts have said that with policy rates over 9.0 percent, Sri […]
Distilleries Company of Sri Lanka rated AAA(lka): Fitch
Dec 20, 2012 (LBO) – Fitch Ratings said Distilleries Company of Sri Lanka Plc, has been rated AAA(lka) with a stable outlook helped by its market leadership in spirits, steady demand and entry barriers to new entrants. “Fitch views the high and frequent increases in top-line taxes on spirits as a regulatory risk, which has […]
‘s economy grows 4.8-pct in third quarter
Dec 19, 2012 (LBO) – Sri Lanka’s economy expanded 4. 8 percent in the third quarter of 2012 slowing from 8. 5 percent a year earlier with agriculture contracting 0.5 percent, the state statistics office said. Sri Lanka’s gross domestic product was estimated to have grown 8. 3 percent in 2011 and is expected to […]
Sri Lanka tourist arrivals up 20-pct in Nov
Dec 19, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 20.1 percent to 109,202 in November from a year earlier with arrivals up to November up 16 percent to 883,353 data from the state tourist promotion office showed. Tourists from South Asia rose 9. 6 percent to 26,649 helped by a recovery of the Indian […]
Sri Lanka tourist arrivals overtake Maldives
Dec 19, 2012 (LBO) – Sri Lanka’s tourist arrivals which rose 16. 5 percent to 883,353 in the 11 months to November 2012 from a year earlier, has outstripped that of Maldives which welcomed 866,310 tourists up only 2.4 percent. The phenomenon based mostly on overland travel revolutionized global tourism before the advent of privately […]
Sri Lanka Treasuries yields plunge
Dec 19, 2012 (LBO) – Sri Lanka’s Treasuries yields plunged at Wednesday’s auction for the second week running with the 12 month rate falling as much as 27 basis points to 12. 18 percent, data from the state debt office showed. The 3-month yield fell 21 basis points to 10.23 percent and the 6-month yield […]
Sri Lanka appoints honorary consul for Cape Town
Dec 18, 2012 (LBO) – Jonathan Jacobs, a businessman and chairman of International Trade and Tourism of the Cape Town Chamber of Commerce, has been appointed Honorary Consul covering the Western Cape Province of South Africa. Sri Lanka’s foreign ministry said he will assist the Sri Lankan High Commission in Pretoria. The foreign ministry said […]
Sri Lanka food exporters urged to register with FDA
Dec 18, 2012 (LBO) – Sri Lanka’s food exporters to the US should renew their registrations with the Food and Drug Administration quickly to avoid prohibition, the island’s embassy in Washington said. The embassy said under a food safety law (Food Safety Modernization Act) foreign firms also have to designate a US agent to communicate […]
‘s Colombo Land says wraps up purchase
Dec 18, 2012 (LBO) – Sri Lanka’s listed Colombo Land and Development Company Plc has wrapped up a deal to buy an adjacent property, which it had earlier said cost 221 million rupees, and a hotel project has been delayed. The firm owns Sri Lanka’s Liberty Plaza shopping mall in the up market Kollupitiya suburb […]
Sri Lanka opposition raises queries on payment for state land
Dec 18, 2012 (LBO) – A legislator from Sri Lanka’s main opposition United National Party had queried whether India’s Krrish group had made a payment for the purchase of leased state land on an announced date. A number of Sri Lankan and foreign firms which had been given state land were expropriated last year for […]
Oman Air and Qatar Airways in codeshare do Doha
Dec 18, 2012 (LBO) – Oman Air has inked a code share deal with Qatar Airways allowing its customers to book flights from any of 42 points within its network to Doha, the capital of Qatar. “This codeshare will make travel within the Gulf region easier, effectively extending Oman Air’s network,” Wayne Pearce, chief executive […]
Sri Lanka flood, landslide toll rises
Dec 18, 2012 (LBO) – Flooding and landslides have killed at least nine people and left thousands homeless, Sri Lanka’s disaster management office said as heavy rains continued to lash parts of the island. Sri Lanka’s Disaster Management Centre said eight people had died in Matale and one is Kandy in central Sri Lanka and […]